What’s It Worth?

Tuesday 15th November, 2005
I'm in negotiation with one of these cyberterrorist squatting companies for the Domain name jaffacake.co.uk which is currently in their name.

I offered them a pretty standard price for it as I really don't think it's much use to them. I already hold the .com .org and .net suffixes so no company or person in their right mind would bother paying the money for a domain that mainly owned by me and that I own google searches for. (Google Rank 6 now :-)

They tell me it's available for a lot more money than that...my reply:

It's ok, I have .net, .org and .com already; just trying to complete the set so I can double the rent and start building houses/hotels.


When you're ready to sell at a reasonable price, let me know.


I didn't expect a reply, but I got one:

What is your reasonable price?

 
Bearing in mind that I took someone out for dinner the other night and it cost me £100 - That was reasonable for a posh meal.

But then I spent £4995 on a brand new car - that was reasonable for a new Suzuki.

 
What is a reasonable price to complete the set.  - If I pass GO i collect £200!

 
Nice blog btw - you got me hooked reading then :o)


Kind Regards


Andrew


So what's it worth then? To register a .uk domain with 123reg costs a whole £3.04 a year. They're nice people at 123reg you see and that's why they hold all my domain registrations. It takes a lot to get your name mentioned on this page as 10,000 genuine hits a day is quite a considerable advertising base. Now if "Andrew" was to sell it to me at a nice price, he too could get a really nice link and a big thank you for all my readers to see. They might even click the link to his site and see the other lovely names available.

Alternatively I could just surrender to the hostage taker's demands and pay up...not likely seeing as normal domains cost £3/yr. I mean, what next...he'll offer to submit me to Google and the other "top 50 search engines" for £50/yr?

So where do we go from here? What is a reasonable price? Aren't Suzuki's cheap these days? (I guess they have to compete with Aygo in today's market) Did Andrew have a Jaffacake dessert with his posh meal? Or maybe just the Sticky Richard?

All comments welcome - Incidentally, my offer of £20 was declined.


  1. 1) Andrew Said: (15/11/2005 12:49:34 GMT) Gravatar Image
    What’s It Worth?

    Thanks for you comments there Ben. I'm not to sure if you're well practiced in the art of business ethics but I'll let you off for posting what should be a private email. ;o)

    In a world where domains do resell for a lot of money I'd like you to justify your stance on why you think I am a cyberterrorist squatter? I would like to buy jaffacake.com please - I'm sure its not for sale - but does that make you or me a squatter?

    I'm also inclined to ask you what your opinion on webbusiness / ecommerce and general business practice is? - Please tell me why in your opinion the price of a new registration on 123reg for a .co.uk domain name should have any bearing on what a domain name is worth in the secondary market. - I can buy a box of Mars Bars from the cash and carry for 30p a bar - Is it my divine right to accuse the local corner shop of profiteering when they list their Mars Bars for 50p a time?... "No" in a word because its called business.

    I could go on all day - But I have a business to run.

    Kind Regards

    Andrew

  2. 2) Kingy Said: (15/11/2005 12:54:26 GMT) Gravatar Image
    What’s It Worth?

    Offer him 3 figures for it...

    £1.99 should do it :O)

  3. 3) Colman Said: (15/11/2005 12:59:29 GMT) Gravatar Image
    What’s It Worth?

    Andrew,

    One difference is that you actively look to make money from selling domain names....so in my book that makes you a squatter !

    Oh, and my local corner shop don't charge £50 for the Mars bar in question, which is about the same markup you're looking for :)

  4. 4) Ben Rose Said: (15/11/2005 13:34:44 GMT) Gravatar Image
    What’s It Worth?

    From Urban Dictionary: { Link }

    1. cybersquatter

    A person who purchases domain names in order to sell them.That cybersquatter sold drugs.com for one million dollars last year.

    From Wikipedia { Link }

    Cybersquatters usually ask for prices far greater than that at which they purchased it.

    ---

    Many cybersquatters also register many variants of a name. For example, a cybersquatter squatting on eFingernail.com may also squat on eFingernail.net, ElectronicFingernail.com, ElectronicFingernail.net and any other variants they can devise.

    ---

    From your own website: { Link }

    We buy and sell premium generic domain names.

    ---

    I'd say that makes you a cybersquatter, as does the rediculously exagerated pricing.

    You say "This domain is available for mid 3 figures" - Well how generous for a £3 registration fee.

    You're also liable for £3/yr in ongoing domain costs. Incidentally this is what we call, in big business, ongoing costs. You could possibly declare it to the taxman as an asset but then it would need a value. It's also liable for capital gains tax no doubt.

    Incidentally, I did notice that your site has a Google ranking of 3, that's 3 points lower than myself. How bizarre seeing as you specialise in search engine optimization. On your latest project list { Link } you like to W ebPos ition { Link } as one of your latest Search Engine Optimisation tools. How on earth can a Search Engine Optimisation site have a Google ranking of 3/10?

    Incidentally, Google ranking is inherited. That is why all of your links are broken above. There's no way I'd want the Google spider to think I in any way endorsed your product.

    (Apologies to readers, please remove the rogue dots from the links above to make them work.

    It's amazing to think that if I actually published an article with your company name in it, I'm likely to rank higher in Google for it than you do. Strange world.

  5. 5) Paul Mooney Said: (15/11/2005 13:34:59 GMT) Gravatar Image
    What’s It Worth?

    LOL

    This is getting interesting....

    BTW the "secondary market" argument was used in Ireland by squatters aswell. They registered the Prime Minister's name and directed it to a porn site.

    Ah... *legitimate* business is alive and kicking I see

  6. 6) Chris Said: (15/11/2005 14:54:48 GMT) Gravatar Image
    What’s It Worth?

    I see www.jaffacake.ie is going begging.... unless Paul has already snaffled it up just to annoy you !

  7. 7) Paul Mooney Said: (15/11/2005 15:40:03 GMT) Gravatar Image
    What’s It Worth?

    .ie addresses are VERY difficult to get, unless you are a registered company, a personality (!) or trade in some form in the name required. That is becuase of my earlier story.

  8. 8) Chris Said: (15/11/2005 17:44:12 GMT) Gravatar Image
    What’s It Worth?

    I think Ben would qualify as a personality ;-)

  9. 9) Mike Rice Said: (16/11/2005 13:26:58 GMT) Gravatar Image
    What’s It Worth?

    What about offering to treble his outlay, plus "reasonable" expenses? In business terms thats a pretty nice return for someone who made the investment at most just under 2 years ago (it was registered it in 09-12-2003, its also up for renewal on 09-12-2005, so if he flogs it now more costs are avoided)

    Failing that go & get .info, .biz, .uk.net & .uk.com as well, as this will probably make the .co.uk domain less valuable as you hold all of the rest.

    But get there quick before some other "CyberInvestor" beats you to it.

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